ASTL 1QFY27 loss narrows 92%

MG News | October 30, 2026 at 09:21 AM GMT+05:00

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October 30, 2026 (MLN): Amreli Steels Limited (PSX: ASTL) significantly curtailed its net loss for the first quarter ended September 30, 2026 (1QFY27 / 3MFY27), posting a loss of Rs60.57m compared to a net loss of Rs790.36m in the corresponding period of the previous fiscal year.

Reflecting the substantial operational turnaround, basic and diluted loss per share (LPS) for the three-month period reduced sharply to Rs0.18, down from a loss per share of Rs2.66 recorded in 3MFY26.

The primary catalyst driving the recovery was a 3.7x surge in top-line net sales, which climbed to Rs10.45bn from Rs2.79bn in 3MFY26.

Cost of sales expanded to Rs9.46bn from Rs2.77bn, allowing gross profit to surge to Rs983.58m against Rs18.65m in the comparative quarter.

Consequently, the company's gross profit margin expanded to 9.42% compared to 0.67% in 3MFY26.

On the operational side, distribution costs rose 2.4x to Rs247.6m (up from Rs103.43m), while administrative expenses were tightly managed, declining 1% to Rs172.58m.

Charge for expected credit loss increased to Rs16.47m (up from Rs278 thousand), and other expenses rose to Rs74.90m from Rs27.55m.

Supported by other income of Rs58.47m (down 17% from Rs70.47m), operating profit staged a turnaround to Rs530.51m compared to an operating loss of Rs216.49m in 3MFY26.

Below the operating line, finance costs contracted 33% to Rs588.17m compared to Rs872.95m in 3MFY26.

This brought loss before taxation and levy down to Rs57.66m against Rs1.09bn. After accounting for statutory levies of Rs130.55m (up from Rs34.59m) and a tax credit/reversal of Rs127.64m (compared to Rs333.68m in 3MFY26), Amreli Steels Limited concluded the first quarter with a sharply narrowed net loss of Rs60.57m.

STATEMENT OF PROFIT OR LOSS FOR THREE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000)
Description	2026	2025	change %
Sales - net	10,445,828	2,792,610	274.1%
Cost of sales	(9,462,245)	(2,773,962)	241.1%
Gross profit	983,583	18,648	5174.5%
Distribution costs	(247,600)	(103,430)	139.4%
Administrative expenses	(172,580)	(174,347)	-1.0%
Charge for expected credit loss	(16,467)	(278)	5823.4%
Other expenses	(74,903)	(27,554)	171.8%
Operating overheads subtotal	(511,550)	(305,609)	67.4%
Other income	58,472	70,467	-17.0%
Operating profit/ (loss)	530,505	(216,494)
Finance costs	(588,167)	(872,954)	-32.6%
Loss before taxation and levy	(57,662)	(1,089,448)	-94.7%
Levy	(130,548)	(34,586)	277.5%
Loss before taxation	(188,210)	(1,124,034)	-83.3%
Taxation	127,638	333,676	-61.7%
Loss for the period	(60,572)	(790,358)	-92.3%
Loss per share – basic and diluted (Rupees)	(0.18)	(2.66)	-93.2%

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